When is Accounting Day Celebrated in Germany
There is no specific date in Germany which is widely accepted by the community and is designated as National Accounting Day or similar professional holiday for accountants.
Thus we recommend to celebrate International Accounting Day on November 10th.
At the same time some companies are also trying to fill the gap and appoint a dedicated celebration days for accountants in Germany – to acknowledge the unique contribution accountants have made to businesses, the community and the German economy.
Accounting organizations and unions in Germany
The Accounting Standards Committee of Germany (ASCG) was established in 1998 as standardization organization and has since then been the institution
– to develop recommendations for the application of principles for consolidated financial reporting;
– to provide advice on planned legislation on accounting regulations at national and EU level;
– to represent the Federal Republic of Germany in international accounting and financial reporting bodies;
– to develop Interpretations of the international accounting standards within the meaning of section 315a(1) of the German Commercial Code (HGB);
– to enhance the quality of accounting and financial reporting;
– to promote research and education in the above-mentioned areas.
Institute of Public Auditors (Institut der Wirtschaftsprüfer)
It is a privately run organization established to serve the interests of its members who comprise both individual Wirtschaftsprüfers (German Public Auditors) and Wirtschaftsprüfungsgesellschaften (German Public Audit firms).The IDW was established on a voluntary basis rather than having been established under German law. In accordance with its Articles of Incorporation, the IDW doesnot operate as a commercial business and is a non profit organization. Membership as of 31 December 2009 was 12,979 full members, of whom: 11.959are Wirtschaftsprüfers (87% of all Wirtschaftsprüfers) and 1.020 areWirtschaftsprüfungsgesellschaften.
The IDW’s role is to:
– Represent the professional interests of its members at both national and international levels
– Undertake technical work relevant to the fields in which its members are active
– Provide training courses and support for trainee Wirtschaftsprüfer and continuing professional development for qualified Wirtschaftsprüfer
– Provide support to members on technical issues in their day-to-day work
Chamber Of Public Accountants – Wirtschaftsprüferkammer (WPK)
The Wirtschaftsprüferkammer (WPK) is a corporation under public law, whose members are all German public accountants (Wirtschaftsprüfer), German sworn auditors (vereidigte Buchprüfer) who are licensed auditors in public practice authorized to perform only statutory audits of annual financial statements of mid-sized German limited liability companies, German public audit firms (Wirtschaftsprüfungsgesellschaften ) and German firms of sworn auditors(Buchprüfungsgesellschaften ) in Germany. The WPK is headquartered in Berlin and is competent for its more than 20,000 members throughout Germany.
The general duties of the Chamber of Public Accountants are:
– exercise professional supervision over its members which is not given in the jurisdiction of the Attorney General;
– Perform quality control procedures
– Conduct nationwide audit examination
– To appoint auditors and certified public accountants or accounting firms as well as to evoke their appointment or recognition
– To advice their members and organize teaching programs
Accountant Groups In Germany (AGIG)
It was formed in 1980. The AGIG is funded by six Accountancy bodies and this funding is coordinated through the Consultative Committee of British and Irish Accountancy Bodies (CCAB). It currently represents more than 700 professionally qualified Accountants resident in Germany.The AGIG is run by a committee elected by the members at the Annual General Meeting each April. Their principal goals are to encourage networking between members, to develop relationships with local professional bodies and to help with continuing professional education (CPE). Their main contact with its members is through the Seminars which holds twice a year in Frankfurt.
Federation Of European Accountants (FEE)
FEE is the voice of the European accountancy profession toward the EU institutions and other international organizations.It is an international non-profit organization based in Brussels that represents 45institutes of professional accountants and auditors from 33 European countries,including all of the 27 EU Member States.FEE’s objectives include analyzing and contributing to professional, regulatory and public policy developments of relevance to the profession, ensuring Member Bodies’ timely information and offering leadership in representing the profession. FEE also promotes cooperation between its Member Bodies.In representing the European accountancy profession, FEE recognizes the public interest.
Accounting qualification in Germany
Whilst there are a number of routes to qualification, most students will first qualify as a ‘Steuerberater’ (A chartered German‘Tax adviser’), which comprises three written examinations and one oral examination before deciding to move onto the Wirtschaftspruefer.Qualified Tax Advisers qualify to take the Wirtschaftspruefer by passing several qualifying exams before taking seven written exams.There are relatively few Steuerberaters and Witschaftpruefers in Germany. On along term average only 50% of applicants are successful.